# KAOPEN x Demographics: OECD vs. Non-OECD

| Variable | capital_intensity: OECD | capital_intensity: Non-OECD | labor_productivity: OECD | labor_productivity: Non-OECD | capital_per_worker: OECD | capital_per_worker: Non-OECD |
|:---|---:|---:|---:|---:|---:|---:|
| Z_1 | 39.7948 | 36.3029** | -27536.3322 | -3450.2476 | -0.1314 | -0.0396 |
| | (28.2766) | (15.6801) | (30103.5407) | (6216.2429) | (0.1723) | (0.0501) |
| Z_2 | -3.9487 | -4.2652* | 3857.5336 | 2312.7522** | 0.0063 | 0.0212*** |
| | (3.9206) | (2.4008) | (4189.5722) | (938.7502) | (0.0240) | (0.0077) |
| Z_3 | 0.1079 | 0.1394 | -113.4409 | -120.6133*** | 0.0004 | -0.0012*** |
| | (0.1507) | (0.0996) | (161.9335) | (39.1509) | (0.0009) | (0.0003) |
| kaopen | -0.4278** | 0.4740 | 489.0793*** | 373.7871*** | 0.0066*** | 0.0004 |
| | (0.1851) | (0.4104) | (165.6492) | (131.7545) | (0.0010) | (0.0010) |
| Z_1_x_kaopen | -8.7022 | -0.2680 | 1669.2192 | -5826.3714** | -0.2124*** | 0.0201 |
| | (13.4508) | (8.7517) | (12203.4088) | (2692.0490) | (0.0707) | (0.0196) |
| Z_2_x_kaopen | 1.2369 | -0.0281 | -560.1140 | 901.5841** | 0.0266*** | -0.0025 |
| | (1.8571) | (1.3490) | (1689.5057) | (413.9097) | (0.0098) | (0.0030) |
| Z_3_x_kaopen | -0.0473 | 0.0044 | 32.1296 | -36.6306** | -0.0009** | 0.0001 |
| | (0.0710) | (0.0560) | (64.6079) | (17.1941) | (0.0004) | (0.0001) |
| fiscal_bal_gdp | 0.1622*** | -0.0868*** | 153.3658*** | 49.3968*** | -0.0008*** | -0.0001 |
| | (0.0264) | (0.0208) | (17.5959) | (5.3224) | (0.0001) | (0.0000) |
| nfa_gdp_lag | 1.0772*** | 0.0881 | 720.4702*** | 54.8166 | -0.0049*** | 0.0000 |
| | (0.2634) | (0.1885) | (180.6700) | (55.2058) | (0.0012) | (0.0004) |
| rgdp_growth | 0.1630*** | 0.0689*** | 146.1700*** | 53.2480*** | -0.0004*** | -0.0000 |
| | (0.0171) | (0.0115) | (10.7753) | (2.7952) | (0.0001) | (0.0000) |
|:---|---:|---:|---:|---:|---:|---:|
| N | 1301 | 3370 | 1161 | 3913 | 1153 | 3356 |
| R² | 0.2544 | 0.0896 | 0.2763 | 0.3021 | 0.4003 | 0.2570 |
| Countries | 37 | 122 | 37 | 134 | 37 | 126 |

*Panel GLS with country and year fixed effects. Standard errors in parentheses.*
*\*p<0.1, \*\*p<0.05, \*\*\*p<0.01*